The Saudi Stock Exchange (Tadawul) announces that the accumulated losses of Etihad Atheeb Telecommunication Co. has reached 75% or more and less than 100% of its capital
Thursday, December 15, 2016 at 8:11 AM
Thu Dec 15, 2016 08:11
Based on the instructions and procedures related to listed companies with accumulated losses reaching 50% or more of its capital, issued by the board of the Capital Market Authority (CMA) pursuant to its resolution number 4-48-2013 dated 15/1/1435H corresponding to 18/11/2013G, and as a result to the announcement of Etihad Atheeb Telecommunication Co. dated 14/12/2016 that its accumulated losses reached (75.95%) of its capital, and since this percentage of accumulated losses represents 75% or more and less than 100% of its capital, the Saudi Stock Exchange (Tadawul) under the aforementioned instructions and procedures will do the following:
- 1. Suspend trading of the company’s shares for one session following the announcement.
- 2. Put an orange flag next to the company’s name on Tadawul website.
- 3. Settlement will occur within two business days (T+2).